Product Development strategies – Lean Startup!

Lean startup actually focuses on developing and thereby businesses in short span of time. It could be anything, a new business, or IT startup or a tie up with an established enterprise, this methodology tries to eliminate waste, thereby speeding up the process and taking it to a higher level. It tries to eliminate the risk of failure and definitely reduces it keeping it to minimal.

When this risk is at minimum, everything else steers up to a higher level and the product could be delivered in the right time if not ahead. It is not just being successful in a project but also learning from the businesses how things could be done in a better way as a whole. It is also learning to eliminate or discard the waste or not-so-useful things while you learn on how things actually work. So the basic aim of lean methodology is laying emphasis on discarding the waste in the most efficient way.

So if you are an entrepreneur already working on a small start up and would like to introduce Lean concepts in your business, think about the value adds it would bring to your business. Along with the steps to be followed to minimize wastage, with its concept called ‘validated learning’ the span for developing a product could be shortened which would keep the customers happy and would also give the business better scopes for improvement.

This in turn would also means minimizing the production cost which again will be a compliment for the business and would also provide additional time and resources for testing. The concept of this Lean startup is more likely a branch-out of the Lean concept from the SIX sigma concepts. And also these concepts are used across huge organizations and have been beneficial resulting in quality improvement. It could be used for every-size enterprise and would result in great learning and results.